Texas Transportation Code
§ 370.113 — PAYMENT OF BONDS; STATE AND COUNTY CREDIT
TN § 370.113Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 370. REGIONAL MOBILITY AUTHORITIES · Art. D. TRANSPORTATION PROJECT FINANCING
Statute text
View on source(a)The principal of, interest on, and any redemption premium on bonds issued by an authority are payable solely from:
(1)the revenue of the transportation project for which the bonds are issued;
(2)payments made under an agreement with the commission, the department, or other governmental entity as authorized by this chapter;
(3)money derived from any other source available to the authority, other than money derived from a transportation project that is not part of the same system or money derived from a different system, except to the extent that the surplus revenue of a transportation project or system has been pledged for that purpose;
(4)amounts received under a credit agreement relating to the transportation project for which the bonds are issued; and
(5)the proceeds of the sale of other bonds.
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Legislative history
Acts 2011, 82nd Leg., R.S., Ch. 1279 (H.B. 1112), Sec. 7, eff. June 17, 2011.